ViewRay Hires Adviser to Evaluate Strategic Alternatives
13 4월 2023 - 7:51PM
Dow Jones News
By Will Feuer
ViewRay Inc., which makes a radiation-therapy system, said it
has hired Goldman Sachs & Co. as a financial adviser to
evaluate strategic alternatives, which could include a sale of the
company.
The move comes as ViewRay cut its full-year revenue guidance,
citing delayed installation schedules and "growing financial
pressures impacting schedule of deliveries."
The company said it now expects 2023 revenue growth to be
between flat and up 15%, down from prior guidance of 25% to 40%
growth.
The company said its cash balance of $86 million will be enough
to get the company into the first quarter of 2024.
"The first quarter was hindered by global macroeconomic
headwinds," Chief Executive Scott Drake said. "The timing of new
installations and the corresponding payment schedules have
increased the need to extend our working capital balances.
"Looking to the balance of 2023 and into 2024, while we expect a
delay in delivery schedules, our backlog and, ultimately,
installations remain strong," he said.
Mr. Drake said the company intends to quickly cut costs as it
weighs its options.
For the first quarter, the company said its loss widened to
about $29 million from about $26 million a year earlier. Revenue
rose to about $23 million from about $19 million.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
April 13, 2023 06:36 ET (10:36 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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